Buying an FR-S at 18

[Tcoat]

Originally Posted by noodle

Many people on here have mentioned it but I just want to stress the importance of this. Please make sure to get insurance quotes!! Don't assume, this one bit me in the butt a bit more than I was expecting.

I was going to sell my car to my 17 year old grandson for it's quoted trade in value. We checked into insurance and NOPE that just isn't going to happen. Instead he get's his dad's 8 year old Mazda 5. Not nearly as cool but it is MT and at about 40% of the insurance costs he can afford it easily.

[ROFL it's Waffle]

Originally Posted by frostyfrs

That's the thing though, I need the camry for the winter, the fr-s would get destroyed if I daily drove it in the winter here.

Smarter than I was at 18 LOL. I don't know your living situation, but if you have winter storage available for the FRS, you're protecting your investment for sure. I live in an area where road salt WILL destroy a car. I've seen people DD these in the winter. Doable yes, with dedicated snow tires/steel rims. Would I do it? It would depend on my build. Dirtfish uses these as rally cars (https://drive.dirtfish.com/the-cars/).

Insurance will be the big killer though. My wife sells insurance and quoted me for a used FRS in Western NY. You're looking at about $750/yr with collision. My Lexus is $722/yr for a reference point. Your situation may not be this "cheap" since your age group gets the shaft.

But.... there are great ways to save on insurance through discounts. I HIGHLY recommend taking this course https://www.myimprov.com/comedy-traffic-school/ to save 10% on your insurance for 3 years!

Welcome to the forum! What are your FRS ambitions?

[Tcoat]

Originally Posted by ROFL it's Waffle

Smarter than I was at 18 LOL. I don't know your living situation, but if you have winter storage available for the FRS, you're protecting your investment for sure. I live in an area where road salt WILL destroy a car. I've seen people DD these in the winter. Doable yes, with dedicated snow tires/steel rims. Would I do it? It would depend on my build. Dirtfish uses these as rally cars (https://drive.dirtfish.com/the-cars/).

Insurance will be the big killer though. My wife sells insurance and quoted me for a used FRS in Western NY. You're looking at about $750/yr with collision. My Lexus is $722/yr for a reference point. Your situation may not be this "cheap" since your age group gets the shaft.

But.... there are great ways to save on insurance through discounts. I HIGHLY recommend taking this course https://www.myimprov.com/comedy-traffic-school/ to save 10% on your insurance for 3 years!

Welcome to the forum! What are your FRS ambitions?

It isn't an "investment" it is a depreciating capital expenditure. Even if it was an "investment" a non winter driven car in the North may fetch 5% more in resale at the very best. The cars are well able to withstand the weather and roads and to pay to maintain two cars just to attempt to slightly preserve one would be a horrible return.

[new2subaru]

Originally Posted by ROFL it's Waffle

Smarter than I was at 18 LOL. I don't know your living situation, but if you have winter storage available for the FRS, you're protecting your investment for sure. I live in an area where road salt WILL destroy a car. I've seen people DD these in the winter. Doable yes, with dedicated snow tires/steel rims. Would I do it? It would depend on my build. Dirtfish uses these as rally cars (https://drive.dirtfish.com/the-cars/).

Insurance will be the big killer though. My wife sells insurance and quoted me for a used FRS in Western NY. You're looking at about $750/yr with collision. My Lexus is $722/yr for a reference point. Your situation may not be this "cheap" since your age group gets the shaft.

But.... there are great ways to save on insurance through discounts. I HIGHLY recommend taking this course https://www.myimprov.com/comedy-traffic-school/ to save 10% on your insurance for 3 years!

Welcome to the forum! What are your FRS ambitions?

A car that has been winter driven is just as valuable as a car that hasn't. This isn't a rare car we're speaking about here. For the most part, cars aren't investments. They're money pits...

This is from someone who has their car stored.

If I was the OP I'd only have one car.


EDIT Tcoat wins again! lol

[ROFL it's Waffle]

Originally Posted by Tcoat

It isn't an "investment" it is a depreciating capital expenditure. Even if it was an "investment" a non winter driven car in the North may fetch 5% more in resale at the very best. The cars are well able to withstand the weather and roads and to pay to maintain two cars just to attempt to slightly preserve one would be a horrible return.

Lol, sorry, I was thinking of the car I'm saving up for http://www.nsxprime.com/forum/forumd...or-Sale-(Gen-1)

[bcj]

I bought my FR-S with a cashier's czeck from my credit union for the full OTD and no trade in.

"But we need to run a credit check!"
"No you don't."

The ran the check anyway. Think they were flabbergasted by the novel situation.
No checklist item in the three ring "Sell a car" training binder for that situation.

"But! But! We don't know how to handle this!"

Could have walked, but I didn't want to spend more time shuffling between Mgt. and the floor droid.
Got the model I wanted. Plus the "Only one price!" OMG LOL promotion.

[Tcoat]

Originally Posted by ROFL it's Waffle

Lol, sorry, I was thinking of the car I'm saving up for http://www.nsxprime.com/forum/forumd...or-Sale-(Gen-1)

Still not an investment unless you plan to park it away and never ever use it as a car.

[ROFL it's Waffle]

What an awesome thread starter. This really got people out of the woodwork (and @Tcoat out of hibernation).

[ROFL it's Waffle]

Originally Posted by Tcoat

Still not an investment unless you plan to park it away and never ever use it as a car.

Not driving is car abuse.

[Tcoat]

Originally Posted by ROFL it's Waffle

Not driving is car abuse.

Here are some investment cars


https://www.ft86club.com/forums/showthread.php?t=133231


Buy cheap.
Fix up.
Sell at profit.
Invest profit in next one.

[Opie]

Originally Posted by Tcoat

Here are some investment cars


https://www.ft86club.com/forums/showthread.php?t=133231


Buy cheap.
Fix up.
Sell at profit.
Invest profit in next one.

Still working on the profit thing...more a thing I do for fun.

[Feistyfrog]

Originally Posted by Dadhawk

If you take out a loan for a car what you are really saying is "if I saved $xxx for x years, I can afford this car I really want, instead of this car over here I can afford now" but rather than doing that you have to have it now. That's OK, it's an individual decision to do that. I just suggest you not fool yourself about what you are doing. You are buying something you can't really afford by paying something you can, assuming that there is no risk in doing so.

This is it!! You want it now by financing? It will cost you more. Simple as that.

Here's an example that's been a real eye opener for me....

Three years ago, my wife paid off the loan on her car. It was still like new and perfect for her needs, but she started thinking about getting a toy car for summer. We talked about it and decided it wasn't a good timing, mostly because we just bought a business, on a loan (how ironic). We tried to put aside the same amount of money that she was paying monthly for her car loan and see where it would get us.

Three years later, we manage to save a lot of money and decided it was time to buy her toy car. We will pick up her MX-5 NC next Tuesday, pay cash and enjoy it debt free!!

I'm not moralizing anybody since I also participate in the "system", but when they are ways to go around that, I think the satisfaction of being debt free on something is worth the wait. Paying cash will also open up better deals on many things since you can negociate lower prices... 0% financing doesn't exist.

But it's so hard to wait, especially at a younger age...

[frostyfrs]

Originally Posted by ROFL it's Waffle

Smarter than I was at 18 LOL. I don't know your living situation, but if you have winter storage available for the FRS, you're protecting your investment for sure. I live in an area where road salt WILL destroy a car. I've seen people DD these in the winter. Doable yes, with dedicated snow tires/steel rims. Would I do it? It would depend on my build. Dirtfish uses these as rally cars (https://drive.dirtfish.com/the-cars/).

Insurance will be the big killer though. My wife sells insurance and quoted me for a used FRS in Western NY. You're looking at about $750/yr with collision. My Lexus is $722/yr for a reference point. Your situation may not be this "cheap" since your age group gets the shaft.

But.... there are great ways to save on insurance through discounts. I HIGHLY recommend taking this course https://www.myimprov.com/comedy-traffic-school/ to save 10% on your insurance for 3 years!

Welcome to the forum! What are your FRS ambitions?

As of right now, I pay between 1k-1.2k for insurance on my Camry. After seeing what most people said, I might consider just selling it, buying snow tires, and completely prepping the bottom of the car for the winter. Where I live in mass, the salt and sand is absolutely terrible and by doing this, I feel I will be going against everything my dad has suggested me to do.

My plans for this car are to hopefully boost it in a few years, I'm not trying to rush it though, I don't need that much power at my age. My Camry pretty much has just as much torque as this car, but I'm looking for rear wheel drive. There's also some nice local car meets and cruise nights around where I live, So I'm hoping to show it there as well.

[soundman98]

Originally Posted by Tcoat

Still not an investment unless you plan to park it away and never ever use it as a car.

different kind of investment. i consider my cars personal investments. i use them to grow my knowledge and skills in whatever oddball modifications suit me at the time.